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Overview
Battery Materials Market size is forecast to reach $70 billion by 2025, after growing at a CAGR of 8% during 2020-2025. Extensive usage of batteries in electrical gadgets coupled with increase in demand for electric & hybrid vehicles is driving the growth of battery materials market. Harmful effects of diesel and petrol on the environment with their fluctuating prices aids the growth of Battery Materials market share. Moreover, government’s support by reduction of taxes for the purchase of electric vehicles by launching schemes such as Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) is also augmenting the growth of battery material market size during the forecast period.
Report Coverage
The report: “Battery Materials Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Battery Materials Industry.
By Battery Type: Lithium Ion Battery, Lead Acid Battery, Nickel Cadmium Battery, Nickel Metal Hydride Battery and Others
By Material Type: Cathode (Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt, and Lithium Nickel Cobalt Aluminium Oxide), Anode (Natural & Artificial Graphite, Lithium titanate, Silicon Compound, Activated Carbon), Electrolyte, Separator and Others
By Application: Automotive (Electric Vehicle, Hybrid Vehicle), Industrial, Portable Devices (Computer, Tablets & Mobiles and Others) Medical equipment and others
By Geography: North America, South America, Europe, APAC and RoW
Key Takeaways
- Increasing usage of portable electronic devices for computer and tablets due to its rechargeable properties are driving the growth of battery material market.
- The outbreak of COVID-19 has led to the downfall of the economy and proved to be a nightmare for battery material manufacturers.
- The onset of BS VI engines and restrictions on the use of diesel engines propels the growth electric vehicles, which in turn drives the growth of this market.
- Increase in environmental concerns due to the emissions of greenhouse gases has led the world to adopt electric and hybrid vehicles. According to Bureau of Transportation Statistics, total sales of electric vehicles in United States jumped to 238,800 in 2018.
Battery Type - Segment Analysis
Lithium Ion batteries segment is projected to witness a highest CAGR of 11% in the battery materials market during the forecast period. This growth is attributed to the increasing demand of lithium ion batteries from automotive and electrical industry. Li-ion battery have higher energy density, voltage capacity, and lower self-discharge rate than other rechargeable batteries resulting in better power efficiency as a single cell along with longer charge retention. In addition, Deutsche Bank has forecasted that the global battery consumption will increase five-fold in the next 10 years and lithium-ion batteries alone will account for 97 per cent of battery use in energy storage by 2025.
By Material Type– Segment Analysis
Cathode segment has the largest share of more than 25% in the battery materials market in 2019. All materials in the battery possess specific theoretical energy but the key to high capacity and exceptional power delivery primarily lies in cathode. Hence, batteries based on cathode material has had used in a large scale across various industry verticals. However, Cathode materials consists of cobalt, nickel, and manganese in the crystal structure to which lithium is added, forming a multi-metal oxide material. Increasing usage of batteries in electronic gadgets and automobile is increasing the demand of cathode further escalating the battery material market.
Application – Segment Analysis
Automobile is the fastest growing segment with a CAGR of around 12% in the battery materials market during the forecast period owing to growing uses in electric vehicles. The need of the hour to minimize the carbon dioxide and sulphur dioxide emissions by the combustion of fuels (petrol and diesel) is increasing the demand of electric and hybrid vehicles which in turn boosts the growth of battery materials market. According to International Energy Agency (IEA), global stock of electric passenger cars increased by 63% reaching 5 million in 2018. Around 45% that is a total of 2.3 million electric vehicles were on the roads of China in 2018 whereas Europe and U.S accounts for 24% and 22% of the global fleet. Whereas, the growing focus by the automotive OEM’s to provide economic and sustainable vehicles has led to use the microporous polypropylene, polyethylene film, ethylene carbonate materials in vehicles for reducing vehicle weight that further propels the growth of this segment.
The coronavirus pandemic has badly hampered the growth of battery materials market. Industries all around the world are shuttered and people stuck in their houses. Companies are facing economic crisis as the production has been stopped due lac of workforce and interruption in the global supply chain. The Society of Indian Automobile Manufacturers (SIAM) has estimated that the auto industry will witness loss of USD 313.77 million per day due to lockdown in year 2020. Thus, due to the outbreak of COVID-19 the world economy along with the various industry verticals are facing declining growth that also restrain the growth of battery material market during the forecast period.
Geography - Segment Analysis
APAC dominated the battery material market with a share of more than 35% in 2019 followed by North America and Europe. Increasing industrialization coupled with rapid urban development, growing disposable income, and high purchasing power are driving the battery materials market in APAC. According to World Bank, total manufacturing values added in East Asia & Pacific was 23.38% of GDP in 2017. According to the United Nation Industrial Developments Organization (UNIDO), developing and emerging industrial economies such as India, Indonesia, Malaysia etc. (excluding China) recorded an increase in manufacturing production of 0.7 per cent in the fourth quarter of 2019. Moreover, rise in popularity of electric vehicles based on lithium ion batteries also plays an important role in boosting the growth of battery materials market in APAC region.
Drivers – Battery Materials Market
Growing demand from end use industries
Raising demand of batteries from end users such as electronics and medical is driving the growth of battery materials market. Increase in disposable income coupled with high standard of living is escalating the use of portable and electrical gadgets which uses lithium ion batteries for uninterrupted power supply. According to U.S Census Bureau, total revenue of $1,826,598 was generated by U.S in 2019 by exporting computer and its accessories only to China. The need to store the electrical power fuels the demand of batteries in invertors and generators, substantially augmenting the growth of battery materials market.
Increasing CO2 emissions and government initiatives to support EV
With the rise in environmental concerns, world is heading towards environment friendly vehicles like electrical and hybrid which has low or zero carbon dioxide emissions. Whereas the worldwide increase in demand for electric vehicles due to its low environmental impact is driving the growth of battery materials market. Furthermore, government supports to increase the usage of electric vehicle is also boosting the battery materials market. According to International Energy Agency, the value of government incentives for the purchase of electric vehicles rose by 72% in 2018. Due to the rise in government support, global spending on electric vehicle (EV) purchases grew more than 70% in 2018 to USD 82 billion, subsequently increasing the battery materials market. Also, the U.K government has doubled the funding to $ 13 million for installations of charging stations in 2020.
Challenges – Battery Materials Market
Volatile prices of raw material and harmful effects of Lion batteries
Although batteries have found its applications in almost every end use industries but their harmful effects on human health acts as a restraint for the market. According to U.S. federal regulations, Li-ion batteries are classified hazardous due to their lead (Pb) content. Exposure to high levels of lead may cause anemia, weakness, and kidney or brain damage. In 2017 the Institute for Health Metrics and Evaluation (IHME) has estimated that lead exposure accounted for 1.06 million deaths. Additionally, the trade war between China and U.S has impacted the growth of battery materials market. The U.S has imposed 10 % tariffs on $200 billion worth of Chinese products which include plastics and chemical products, substantially increasing the prices of raw materials and hampering the market growth.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the battery materials market report. In 2019, the market of battery materials top 10 companies accounting for xx% of the share. Major players in the battery materials market industry outlook are, BASF, DOW Chemical, Hitachi Chemical, Johnson Matthey, Mitsubishi Chemical Holdings, Mitsui Mining & Smelting Company, POSCO, Showa Denko, Sumitomo Corporation, Toray, Umicore, Kureha Corporation, among others.
Acquisitions/Technology Launches
- In May 2019, Umicore and Glencore have entered into a long-term agreement for the supply of cobalt hydroxide (cobalt) to Umicore’s battery materials value chain. Additionally, the agreement also provides Glencore long-term market access for its cobalt raw materials in line with Umicore’s cathode materials sales.
- In January 2018, Mitsubishi Chemical Corporation and Ube Industries, Ltd. had agreed to a tie-up for joint operations of their lithium-ion battery electrolyte businesses in China. The joint venture will further enhance their technologies and strengthen cost competitiveness.
1. Battery Materials Market- Market Overview
1.1 Definitions and Scope
2. Battery Materials Market- Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Battery Type
2.3 Key Trends by Application
2.5 Key Trends by Geography
3. Battery Materials Market- Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. Battery Materials Market - Startup companies Scenario Premium Premium
4.1 Top startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Battery Materials Market– Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top companies
6. Battery Materials Market- Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Market Opportunities
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Battery Materials Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Market life cycle
7.4 Suppliers and distributors Analysis
8. Battery Materials Market– By Battery Type (Market Size -$Million)
8.1 Lithium Ion Battery
8.2 Lead Acid Battery
8.3 Nickel Cadmium Battery
8.4 Nickel Metal Hydride Battery
8.5 Others
9. Battery Materials Market– By Material Type (Market Size -$Million)
9.1 Cathode
9.1.1 Lithium Cobalt Oxide
9.1.2 Lithium Manganese Oxide
9.1.3 Lithium Iron Phosphate
9.1.4 Lithium Nickel Manganese Cobalt
9.1.5 Lithium Nickel Cobalt Aluminium Oxide
9.2 Anode
9.2.1 Natural & Artificial Graphite
9.2.2 Lithum titanate
9.2.3 Silicon Compound
9.2.4 Activated Carbon
9.3 Electrolyte
9.4 Separator
9.5 Others
10. Battery Materials Market– By Application (Market Size -$Million)
10.1 Automotive
10.1.1 Electric Vehicle
10.1.2 Hybrid Vehicle
10.1.3 Others
10.2 Industrial
10.3 Portable Devices
10.3.1 Computer
10.3.2 Tablets & Mobiles
10.3.3 Others
10.4 Medical equipment
10.5 Others
11. Battery Materials Market - By Geography (Market Size -$Million)
11.1 North America
11.1.1 U.S.
11.1.2 Canada
11.1.3 Mexico
11.2 South America
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Colombia
11.2.4 Chile
11.2.5 Ecuador
11.2.6 Rest of South America
11.3 Europe
11.3.1 U.K
11.3.2 Germany
11.3.3 Italy
11.3.4 France
11.3.5 Russia
11.3.6 Spain
11.3.7 Netherland
11.3.8 Belgium
11.3.9 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Australia & New Zealand
11.4.6 Rest of Asia Pacific
11.5 RoW
11.5.1 Middle East
11.5.1.1 Saudi Arabia
11.5.1.2 UAE
11.5.1.3 Israel
11.5.1.4 Rest of Middle East
11.5.2 Africa
11.5.2.1 South Africa
11.5.2.2 Nigeria
11.5.2.3 Rest of Africa
12. Battery Materials Market- Entropy
12.1 New Product Launches
12.2 M&A’s, Collaborations, JVs and Partnerships
13. Battery Materials Market Share Analysis Premium
13.1 Market Share by Country- Top companies
13.2 Market Share by Region- Top companies
13.3 Market Share by type of Product / Product category- Top companies
13.4 Market Share at global level- Top companies
13.5 Best Practices for companies
14. Battery Materials Market- List of Key Companies by Country Premium
15. Battery Materials Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Company 1
15.3 Company 2
15.4 Company 3
15.5 Company 4
15.6 Company 5
15.7 Company 6
15.8 Company 7
15.9 Company 8
15.10 Company 9
15.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"
LIST OF TABLES
1.Global Battery Materials Market By Battery Type Market 2019-2024 ($M)1.1 Li-ion Market 2019-2024 ($M) - Global Industry Research
1.2 Lead-acid Market 2019-2024 ($M) - Global Industry Research
2.Global Battery Materials Market By Battery Type Market 2019-2024 (Volume/Units)
2.1 Li-ion Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Lead-acid Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Battery Materials Market By Battery Type Market 2019-2024 ($M)
3.1 Li-ion Market 2019-2024 ($M) - Regional Industry Research
3.2 Lead-acid Market 2019-2024 ($M) - Regional Industry Research
4.South America Battery Materials Market By Battery Type Market 2019-2024 ($M)
4.1 Li-ion Market 2019-2024 ($M) - Regional Industry Research
4.2 Lead-acid Market 2019-2024 ($M) - Regional Industry Research
5.Europe Battery Materials Market By Battery Type Market 2019-2024 ($M)
5.1 Li-ion Market 2019-2024 ($M) - Regional Industry Research
5.2 Lead-acid Market 2019-2024 ($M) - Regional Industry Research
6.APAC Battery Materials Market By Battery Type Market 2019-2024 ($M)
6.1 Li-ion Market 2019-2024 ($M) - Regional Industry Research
6.2 Lead-acid Market 2019-2024 ($M) - Regional Industry Research
7.MENA Battery Materials Market By Battery Type Market 2019-2024 ($M)
7.1 Li-ion Market 2019-2024 ($M) - Regional Industry Research
7.2 Lead-acid Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Battery Materials Market Revenue, 2019-2024 ($M)2.Canada Battery Materials Market Revenue, 2019-2024 ($M)
3.Mexico Battery Materials Market Revenue, 2019-2024 ($M)
4.Brazil Battery Materials Market Revenue, 2019-2024 ($M)
5.Argentina Battery Materials Market Revenue, 2019-2024 ($M)
6.Peru Battery Materials Market Revenue, 2019-2024 ($M)
7.Colombia Battery Materials Market Revenue, 2019-2024 ($M)
8.Chile Battery Materials Market Revenue, 2019-2024 ($M)
9.Rest of South America Battery Materials Market Revenue, 2019-2024 ($M)
10.UK Battery Materials Market Revenue, 2019-2024 ($M)
11.Germany Battery Materials Market Revenue, 2019-2024 ($M)
12.France Battery Materials Market Revenue, 2019-2024 ($M)
13.Italy Battery Materials Market Revenue, 2019-2024 ($M)
14.Spain Battery Materials Market Revenue, 2019-2024 ($M)
15.Rest of Europe Battery Materials Market Revenue, 2019-2024 ($M)
16.China Battery Materials Market Revenue, 2019-2024 ($M)
17.India Battery Materials Market Revenue, 2019-2024 ($M)
18.Japan Battery Materials Market Revenue, 2019-2024 ($M)
19.South Korea Battery Materials Market Revenue, 2019-2024 ($M)
20.South Africa Battery Materials Market Revenue, 2019-2024 ($M)
21.North America Battery Materials By Application
22.South America Battery Materials By Application
23.Europe Battery Materials By Application
24.APAC Battery Materials By Application
25.MENA Battery Materials By Application
26.Umicore, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Asahi Kasei Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Mitsubishi Chemical Holdings, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.POSCO, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Johnson Matthey, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Hitachi Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Kureha Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Sumitomo Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Toray, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Mitsui Mining & Smelting Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Showa Denko, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.DOW Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.BASF, Sales /Revenue, 2015-2018 ($Mn/$Bn)